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Specialized Freight Trucking Market Size, Share And Industry Growth Forecast 2024 To 2033
Specialized Freight Trucking Market
Specialized Freight Trucking Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $1617.37 billion In 2028 At A CAGR Of 8.2% :
The specialized freight trucking market size has grown strongly in recent years. It will grow from $1084.05 billion in 2023 to $1179.18 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to surge in oil and gas exports, strong economic growth in emerging markets, increased production and consumption of chemicals, and low interest rate environment..
The specialized freight trucking market size is expected to see strong growth in the next few years. It will grow to $1617.37 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to rising demand for raw materials from the manufacturing industries and rising urbanization will drive the market growth. Major trends in the forecast period include rising demand for raw materials from the manufacturing industries and rising urbanization will drive the market growth.
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Specialized Freight Trucking Market Major Segments
The specialized freight trucking market covered in this report is segmented -
1) By Type: Automobiles And Heavy Equipment, Bulk Liquids, Dry Bulk Materials, Forest Products, Refrigerated Goods
2) By Size: Heavy Trucks, Medium Trucks, Light Trucks
3) By Application: Oil and Gas, Industrial and Manufacturing, Energy and Mining, Food and Beverages, Pharmaceuticals and Healthcare, Other Applications
Key Driver - Factors Driving Growth In The Specialized Freight Trucking Market
The specialised freight trucking market's growth is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historical period, are further expected to aid the market's growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets in the forecast period. Stable economic growth is expected to increase investments in end-user markets, thereby driving the market during the forecast period.
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Prominent Trend - Adoption Of Collision Mitigation Technology In Truck Transportation
Truck transportation companies are widely using collision mitigation technology to reduce the loss of lives and damage associated with accidents. The collision mitigation system detects the impending strike and alerts the driver about any collision. These systems are installed within the vehicle, and, in the event of an imminent accident, they can act automatically without the driver's input. These systems are becoming a standard inbuilt feature on many new trucks in many countries globally. For instance, according to US Department of Transportation data, twenty automakers pledged to voluntarily equip virtually all new passenger vehicles by 2022 with a low-speed AEB system that includes forward collision warning (FCW), technology proven to help prevent and mitigate front-to-rear crashes. The agency stated that this could prevent nearly 2000 crashes every year. Major companies manufacturing these systems for trucks include Delphi Automotive LLP, Robert Bosch GmbH, Denso Corporation, Autoliv, Inc., and General Electric Company.
Specialized Freight Trucking Market Players
Major companies operating in the specialized freight trucking market report are FedEx Corporation, Plains GP Holdings, Energy Transfer Partners LP, A.P. Møller-Mærsk A/S, Cargill, Incorporated, Saia, Inc, XPO logistics, Knight-Swift Transportation Holdings Inc., Deutsche Post DHL Group, Toyota Motor Corp, Spice Logistics Private Limited, Freight Mart Logistics, Prime Transport Corporation, OM Logsitcs Limited, Jiangsu Kunyue Logistics Co Ltd, Kunshan Yunda Express Co Ltd, Changsha Sitong Moving Transport Co Ltd, Ningbo Jinxing Logistics Co Ltd, Sichuan Wangcang County Transport Co Ltd, Shanghai Ruiqiang Logistics Co Ltd, Shanghai Taizhi Carbon Co Ltd, Tianjin Jinshi Wukuang International Logistics Co Ltd, InstaFreight GmbH, Haberling, Simco Trans GmbH, Fixemer Real Estate, Kahmen TransCargo GmbH, House of Logistics and Mobility, AW Transport & Logistics GmbH, Livchem Logistics GmbH, DHL Express, TNT Expressare, Spares, Pavages J.M. Beaulieu Inc Les, Smart Move Facilities Services Inc, Blackmine Outfitters Trucking Ltd, J & S Services Inc, R & C Weare Logging Ltd, N. W. White & Company, Bayshore Transportation System Inc, Benny Whitehead Inc, Koleaseco Inc, Harper Investments Inc, Pemex Logística E.P.S, Frialsa Frigoríficos S.A. de C.V, Bravo Servicos Logisticos Ltda, Ic Transportes Ltda, Transportes Transvidal Ltda, Transportes Della Volpe Sa Comercio E Industria, Liderbras Logistica E Transportes Ltda, Wellfield Services Limitada, Frigorifico Novara SA, Organizacion Coordinadora Argentina SRL, Luis A. Carrizo Y Cia. SRL, Oilmar Shipping and Chartering DMCC, Tri Star Transport, International Marine & Energy DMCC, Bin Jaraa General Transporting, Contracting & General Maintenance Company, The National Coal Supply Corporation LTD, Fridenson Logistic Services Ltd, Challenge Airlines (IL) Ltd, Saudi Ground Services Co , Al Kathiri Holding Company, Dammam Airports Company, Alpha Omega International Trading CC, Auto Carrier Corp, FPT Group (Pty) Ltd, Vhubs, Standard Vulcanizer, LTD Commodities
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the specialized freight trucking market in 2023. North America was the second largest region in the specialized freight trucking market. The regions covered in the specialized freight trucking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Specialized Freight Trucking Market Report Structure
3. Specialized Freight Trucking Market Trends And Strategies
4. Specialized Freight Trucking Market - Macro Economic Scenario
5. Specialized Freight Trucking Market Size And Growth
…..
27. Specialized Freight Trucking Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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